Green Plains Partners (NASDAQ:GPP) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Green Plains Partners (NASDAQ:GPP) from a buy rating to a hold rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Green Plains Partners LP provide ethanol and fuel storage, terminal and transportation services by owning, operating, developing and acquiring storage tanks, terminals, transportation assets and other related assets and businesses. Green Plains Partners LP is based in Omaha, Nebraska. “

GPP has been the topic of several other reports. ValuEngine downgraded Zumiez from a hold rating to a sell rating in a research note on Monday, May 13th. BidaskClub cut Xperi from a sell rating to a strong sell rating in a research note on Wednesday, June 19th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The stock has an average rating of Hold and an average target price of $17.20.

Shares of GPP opened at $14.23 on Wednesday. The firm has a market capitalization of $330.40 million, a P/E ratio of 8.95 and a beta of 0.50. Green Plains Partners has a twelve month low of $13.30 and a twelve month high of $16.80. The company has a 50 day moving average price of $14.01.

Green Plains Partners (NASDAQ:GPP) last issued its quarterly earnings results on Wednesday, May 8th. The transportation company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.14. Green Plains Partners had a negative return on equity of 71.28% and a net margin of 54.78%. The business had revenue of $21.09 million for the quarter, compared to the consensus estimate of $22.33 million. Analysts anticipate that Green Plains Partners will post 1.47 EPS for the current year.

Several large investors have recently bought and sold shares of the company. Citigroup Inc. lifted its position in Green Plains Partners by 323.3% during the 4th quarter. Citigroup Inc. now owns 5,503 shares of the transportation company’s stock worth $75,000 after acquiring an additional 4,203 shares during the period. Barclays PLC acquired a new stake in shares of Green Plains Partners during the fourth quarter worth about $118,000. GSA Capital Partners LLP boosted its position in Green Plains Partners by 13.1% in the fourth quarter. GSA Capital Partners LLP now owns 11,887 shares of the transportation company’s stock valued at $161,000 after buying an additional 1,377 shares during the last quarter. Nwam LLC boosted its position in Green Plains Partners by 9.4% in the first quarter. Nwam LLC now owns 25,280 shares of the transportation company’s stock valued at $400,000 after buying an additional 2,180 shares during the last quarter. Finally, Sigma Planning Corp increased its holdings in Green Plains Partners by 12.0% in the 1st quarter. Sigma Planning Corp now owns 41,675 shares of the transportation company’s stock worth $660,000 after buying an additional 4,454 shares during the period. Institutional investors and hedge funds own 15.89% of the company’s stock.

About Green Plains Partners

Green Plains Partners LP provides fuel storage and transportation services. It acquires, owns, develops, and operates ethanol and fuel storage tanks, terminals, transportation assets, and other related assets and businesses. The company owns or leases 32 ethanol storage facilities and approximately 49 acres of land.

See Also: What does a hold rating mean?

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